After the Enron scandal, Gramm and the other directors of the energy company were named in several investor lawsuits, many of which have been settled. In particular, Gramm and other Enron directors agreed to a 168 million dollar settlement in a suit led by the University of California. As part of that settlement, the directors agreed to collectively pay $13 million to settle claims of insider trading. The remainder of the settlement was to be paid by insurance.